Georgia Nuclear fiasco

If you think SC Public Service Commission rulings on SC

Electric & Gas’s botched and abandoned $9 billion nuclear

project were outrageous, here’s what’s going on next door

at Georgia’s own nuclear reactor project.

I n its decision in the Georgia Power rate case, the Georgia Public Service Commission came close to giving the company what it asked for. The award was about $900 million in new revenue a year only phased-in differently. It’s called a constructive relationship when the utility bamboozles the politicians into doing what the utility wants. Georgia Power had asked for a Return On Equity, or profit, that would be the highest in the US. The company argued it was deserved because they as builders of horribly mismanaged nuclear plant Vogtle are the best utility in the country. The commissioners rationalized their decision on high profits saying they wanted to protect Georgia Power’s credit rating. The credit rating agencies were in cahoots with the company in preparing for the case and throughout the proceeding. Commissioners don’t need to award such high profits to get the company to satisfy their indulgences. After all, as long as there are still unapproved cost over-runs on Vogtle, the commission has Georgia Power by the you-know-whats. It can continue to demand the company provide and charge ratepayers for high efficiency rebates, promotion of rooftop solar and electric vehicle battery rebuilding and charging stations.